GMCA approves next round of multi-million pound funding for property developers

Greater Manchester Combined Authority (GMCA) has approved loan funding of more than £42m for new housing schemes across the region.

The go-ahead for the loans, which come from a £300m pot set up to boost living options in the Greater Manchester area, was given at the latest GMCA meeting.

A total of £66.3m has been approved so far, with more than £23m awarded to Manchester-based LQ Developments in July for the creation of six townhouses and 301 apartments.

With the latest portion of the funding, Belgravia Living Ltd will create 91 apartments in Manchester, while Roman Investments (Boundary Park Ltd) will build 20 three-bed homes in Oldham.

Elsewhere, FICM Ltd will construct 380 apartments in Salford, while the Trafford area will see 164 apartments built by Rowlinson Developments Ltd, and a mix of 9 townhouses and 32 apartments from THT Developments.

Overall, the schemes are expected to see more than 1,000 homes constructed in the region.

The chair of GMCA’s Housing and Planning Commission, Councillor Sue Derbyshire, said: “Ensuring that Greater Manchester’s housing supply meets its economic growth and the needs of the area’s people is fundamental to the region’s future.

“I am pleased that by providing loan funding for these schemes GMCA can play a crucial role in getting them started.”

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